dividendshttp://www.maclife.com/taxonomy/term/15333/all
enApple Earnings Beat Estimates, But Overall Profits Downhttp://www.maclife.com/article/news/apple_earnings_beat_estimates_overall_profits_down
<!--paging_filter--><p>Apple released its fiscal earnings for the second quarter today, announcing revenues that exceeded projections while also announcing its first profit decline since 2003. The revenue numbers were solid, with Apple reporting revenue of $43.6 billion and a quarterly net profit of $9.5 billion, or $10.09 per diluted share. That’s well ahead of the estimates of analysts polled by Thomson Reuters prior to the meeting, which had predicted profits of $9.98 a share.</p><p>Even Apple’s first decline in year-over-year quarterly earnings slightly beat early estimates, with Apple reporting an 18 percent profit loss to $9.5 billion that was slightly better than the 19 percent analysts had forecast.</p><p>&nbsp;</p><p><img src="/files/u334114/2013/04/apple.jpg" width="620" height="305" /><br /><span style="color: #222222; font-family: arial; font-size: small;">&nbsp;</span></p><p><span style="color: #222222; font-family: arial; font-size: small;">According to the&nbsp;</span><a href="http://online.wsj.com/article/SB10001424127887324874204578441153601139278.html?mod=WSJ_hpp_LEFTTopStories" target="_blank">Wall Street Journal</a>, Apple’s $43.6 billion revenue marked an 11 percent increase from last year, with much of that revenue springing from the enduring popularity of the iPhone and the iPad. In all, Apple sold 37.4 million iPhones in the quarter, up from 35.1 million a year ago, as well as 19.5 million iPads, up from 11.8 million in 2012.</p><p>In addition, Apple announced a 15 percent increase in its dividend as well as a boost to its stock buyback program by $60 billion, which comes as welcome news to investors who have been pressuring Apple to extend more of its earnings to shareholders. According to the&nbsp;<a href="http://www.latimes.com/business/technology/la-fi-tn-apple-stock-buyback-20130423,0,2360457.story" target="_blank">Los Angeles Times</a>, Apple’s boost to its buyback program makes it the largest share repurchase in history. Shares rose as much as 5 percent in after-hours trading following the announcement of the buyback program, but settled down to less than 1 percent after Apple announced their earnings.</p><p>Apple CEO Tim Cook also used the opportunity to hint that new products might be on the way. In his prepared remarks for the conference call, he stated that “our teams are hard at work at some amazing new hardware, software, and services that we can't wait to introduce this fall and throughout 2014."</p>http://www.maclife.com/article/news/apple_earnings_beat_estimates_overall_profits_down#commentsNewsappleApple earningsbuybackdividendsprofitquarterly earningsWed, 24 Apr 2013 00:30:49 +0000Leif Johnson16803 at http://www.maclife.com